30 am, a 0.3% increase from the previous day’s close. Rheinmetall, Qiagen and Airbus led the list of gainers, while Daimler Truck, Zalando and Heidelberg Materials trailed, with the latter’s shares experiencing a dividend adjustment.
According to Jochen Stanzl, chief market analyst at CMC Markets, the Dax’s rally is accelerating, with a potential increase to 26,800 points, provided there are no significant setbacks in trade politics. The index has gained around 1,000 points since last Friday, with the momentum creating a “suction effect” that prompts investors to jump in to avoid missing out on profits.
However, Stanzl notes that such phases often mark the end of a trend and the steeper the rise, the greater the temptation for investors to invest more, but also the higher the risk of entering the market at overvalued levels.
The positive performance of the US stock market over the weekend, following a strong quarterly report from Nvidia, is expected to provide a boost to investor risk appetite and maintain the momentum. The market expert emphasizes that the tech giant must demonstrate a continued growth in earnings and a sustainable business model, despite the volatile trade policies.
Meanwhile, the euro was slightly weaker against the US dollar, trading at 1.1318, while the dollar was valued at 0.8835 euros. The price of Brent crude oil rose by 33 cents or 0.5% to 64.42 US dollars per barrel by 9 am CET.